4.15

The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder and a DFRC holder , may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.

(The amended para clarifies that a DFRC holder is eligible for getting a back to back inland letter of credit)

(Above para 4.15 has been amended vide PN No. 58/2002-07, Dt. 09/01/2003)

[OLD -
The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder, except for DFRC holders, may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.

(In above para bold sentence has been amended vide PN. No. 39/2002-07, Dt. 08/10/2002)]